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#266814 - 08/09/07 06:41 PM pension
bvgmike Offline
recently joined

Registered: 08/09/07
Posts: 9
Just recently divorced. In the divorce decree it stated
that i would receive half of his pension. Does he half to
collect it before i can receive it. It seems my lawyer is
having a hard time finding this information out. Does anyone have any idea about this?

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#266815 - 08/11/07 11:17 AM Re: pension [Re: bvgmike]
Robert_Nowak Offline
journeyman

Registered: 06/04/05
Posts: 54
Loc: Glen Head, NY
Is there a QDRO in place?
_________________________
Robert E. Nowak, Esq. 107 Northern Bvd. Great Neck, NY 11021 516/487-8200

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#266816 - 08/12/07 12:31 AM Re: pension [Re: Robert_Nowak]
bvgmike Offline
recently joined

Registered: 08/09/07
Posts: 9
What is QDRO?

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#266817 - 08/12/07 12:39 AM Re: pension [Re: Robert_Nowak]
bvgmike Offline
recently joined

Registered: 08/09/07
Posts: 9
IT WAS JUST STIPULATED IN THE DIVORCE DEGREE THAT I WAS ENTITLED TO HALF OF HIS PENSION. He also said he would stop
me from getting it.

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#266818 - 08/12/07 09:41 AM Re: pension [Re: bvgmike]
Robert_Nowak Offline
journeyman

Registered: 06/04/05
Posts: 54
Loc: Glen Head, NY
Qualified Domestic Relations Order. Your attorney should explain this to you.
_________________________
Robert E. Nowak, Esq. 107 Northern Bvd. Great Neck, NY 11021 516/487-8200

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#266819 - 08/16/07 11:47 PM Re: pension [Re: Robert_Nowak]
trapper Offline
recently joined

Registered: 05/22/06
Posts: 16
Loc: ill.
I am retired, drawing my pension and going through a divorce, here in IL. the stbx has already gotten a QDRO and is getting half of my pension, I will get half of hers when she retires, ( but the sweet little wife saids she going to work till she drops) isn't love grand

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#266820 - 09/18/07 11:53 PM Re: pension [Re: bvgmike]
zpinkney Offline
recently joined

Registered: 09/18/07
Posts: 2
This is my case: my husband is retired from nyc police department. We just get a letter saying that his ex-wife will receive 50% of his pension, means the money with we are living right now, they didn't have kids and the major razon the got divorce was because she has a baby with another guy while they were married and she tried to pass the baby as his daugther, but he found in the house proof of she has dating another guy (very clear proof xxx video), so when the lilttle girl born she looks just like the other guy so my husband did DNA test and the baby wasn't his baby. now she's getting have of his pension and also she doesn't wants to sell or refinance the house to give him his part of the money and remove his name from the loan, now we can't buy a house and we have two children. His lawyer told me that about the pension is automaticaly split since the start the divorce, that I don't think that after everything she did and she is getting everything. I need advice about this? What we should do about it? Do we have to hired another lawyer? because it's seems like his lawyer was working for his ex-wife and not for him.

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#266821 - 10/03/07 10:00 PM Re: pension [Re: trapper]
Iggy Offline
recently joined

Registered: 10/03/07
Posts: 1
Trapper, You don't have to wait for her to retire before collecting any monies. The pension fund has to honor the QDRO if it had met their requirements for a valid QDRO. Contact the Pension Fund that was served the QDRO. They are all pretty helpful in these situations.

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#266822 - 10/04/07 05:24 AM Re: pension [Re: Iggy]
jaiye Offline
old hand

Registered: 10/28/05
Posts: 860
If it is an honest to god pension then rather than a retirement plan that the employee paid into then you would most likely have to wait until the employee is retirement age.

For example:
X had a 401K that was 100% employee contributions and I had a QDRO in place to get 50% was paid immediately

X also had a retirement plan for saleried employees that had a cash value I had QDRO for 50% and was paid immediately

X also has a pension for hourly employees that has no cash value that is 100% employer funded and since there is no cash value there is a QDRO in place for me to receive 50% of the monthly payments once he is at retirement age. If he waits to retire until he is 65 then my share will be $300 but on the other hand what he gets is determined by his age at retirement. If he retires at 62 then the payments that I receive will be less than the $300.

My point in all of this is just to show that not all pensions have cash values. If he leaves the company at anytime before 30 yos but before age 65 the amounts will either be less or can be 0 but it has no value to me unless he retires then I will share in the monthy payments. With the QDRO in place an on file with his company then they will have to divide the pension when he retires and they will pay my 50% directly to me. I have already received full payment from the accounts that had cash values but have to wait on the pension. And I also have to keep his company apprised of my whereabouts.

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#266823 - 10/05/07 01:38 PM Re: pension [Re: jaiye]
natural Offline
recently joined

Registered: 10/05/07
Posts: 2
I am a federal employee under the FERS system and from from all the research I've done my pension can not be collected until I retire and I determine when I retire. Part of the reason is that the money I contribute is only a fraction of the retirement. The same is true of my Army Reserve retirement, which is a monthly amount, payable when I turn 60 and my TSP, which I can withdraw from when I turn 59.5.

My wife and I are getting an uncontested divorce. I am trying to be fair with out getting robbed. I believe there is a balance. Anyway, I am proposing that my ex-spouse recieve half of the pension I would recieve when I turn 62 if I retired now - adjusted for COLA, of course.
Does this seem fair? She will get half of my military retirement because she was with me for all of the 20 years I was in the Army / Army Reserves and half of the money I currently have in the TSP.

I am also paying off all the debts accumated during our mariage, but I am trying to do this by giving her the money in spousal support and then having her pay them. This is because I make a lot more than she does. This should even out our incomes to about $40K/year for her and $80k/year for me. I am paying her a generous amount so I think it's fair. Comments?

Thanks in advance for any comments, hopefully constructive, and help.

Roger


Edited by natural (10/05/07 01:40 PM)

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#266824 - 10/11/07 02:20 AM Re: pension [Re: natural]
jaiye Offline
old hand

Registered: 10/28/05
Posts: 860
Sounds pretty fair to me. You definately want all funds that you pay out in the form of alimoney because you can deduct that and you don't pay taxes on it and she would have to claim it as income. If you all have joint debt you might be better off paying it yourself and making her half come out of joint assets so that you can make sure they are paid. More than one person on these forums have had thier X's ordered to pay debts that have not been paid and it messes up thier credit.. You really need to be in charge of making sure they are paid.

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#266825 - 11/24/07 02:19 PM Re: pension [Re: natural]
1956 Offline
recently joined

Registered: 11/24/07
Posts: 1
My husband an I have been together for 10 years, married for 4. He has started drinking and running around with a women. Don't know how long I can stand this. What are my chances of recieving any of his 401 retirement. Our home was bought 5 months before our marriage, but not paid for.

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#266826 - 11/25/07 04:06 PM Re: pension [Re: jaiye]
Goodmom Offline
Pooh-Bah

Registered: 06/17/07
Posts: 2202
Quote:
Sounds pretty fair to me. You definately want all funds that you pay out in the form of alimoney because you can deduct that and you don't pay taxes on it and she would have to claim it as income. If you all have joint debt you might be better off paying it yourself and making her half come out of joint assets so that you can make sure they are paid. More than one person on these forums have had thier X's ordered to pay debts that have not been paid and it messes up thier credit.. You really need to be in charge of making sure they are paid.


Division of assets is not alimony. And this includes the division of 401K's and pension plans.

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#266827 - 11/25/07 04:09 PM Re: pension [Re: natural]
Goodmom Offline
Pooh-Bah

Registered: 06/17/07
Posts: 2202
The only problem with you paying the marital debt by giving her alimony to pay them is that she doesn't have to pay them. And if she doesn't pay, the creditors will come after you if your name is on the debt.

Considering your length of marriage, you are probably looking at long-term alimony anyway. Work on having the monthly amount lower in place of you taking on the debt.

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#266828 - 12/15/07 09:40 PM Re: pension [Re: natural]
freefalling Offline
recently joined

Registered: 12/15/07
Posts: 1
I HAVE A SOCIAL SECURITY DISABILITY INCOME. I WAS RECENTLY TOLD HE FILED A QDRO ON MY DISABILITY INCOME FOM MY WORK. THEY ARE HOLDING THE FUNDS TILL HE GETS THE COURT ORDER. DOES ANYONE KNOW IF HE CAN FILE A QDRO ON MY SOCIAL SECURITY DISABILITY INCOME??

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